Best of Luxury Realty

Tatiana Kolomiets: (305) 987-7470
bestofbeachfront@gmail.com

Seller and buyer expenses

Seller and Buyer expenses. What to expect to bring to the closing table.

Typical Seller’s Expenses

  • Real Estate Commission
  • Documentary stamps on the deed:
    • $.60 per $100.00 of sales price (only in Miami-Dade
    • $.70 per $100.00 of sales price (rest of Florida)
  • Surtax on the deed:
    • $.45 per $100.00 of sales price (Commercial sale Miami-Dade only)
  • Title Search
  • Lien Search
  • Clear Title defects
  • HOA/ Condominium Estoppel letter fees
  • Recording and other fees needed to cure title
  • FIRPTA
  • FedEx/Courier fees

Typical Buyer’s Expenses

  • Mortgage Points and/or Origination Fee “Out of Pocket” Expenses:
  • Appraisal fee ( if financing)
  • Credit Report
  • Property inspection
  • Title Insurance:
    • Lender’s Policy
    • Owner’s Policy
    • Endorsements
  • Title Examination
  • Title Update (from delivery to closing)
  • Courier fees
  • Attorneys fee
  • Recording fees: $6.00 first page, $4.50 each additional page
  • Documentary stamps on the note: $.35 per $100.00of note amount
  • Intangible tax on the mortgage $.20 per $100.00 of mortgage amount
  • Survey ( if applicable)
  • Prepaids:
    • 2 – 4 months property taxes
    • 14 months hazard insurance
    • 14 months flood insurance (if required)
    • 14 months windstorm insurance (if required)
    • P.M.I Premium (If loan is more than 80% loan to value)
    • Prepaid Interest
  • HOA application fees
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